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Perrysburg board hears finance update, approves combined appropriations and discusses $450,000 severance fund transfer
Summary
The board reviewed May financials showing a projected $3.2 million year‑end positive (helped by a $296,000 threshold-cost reimbursement) and approved a combined appropriations resolution to enable July spending; treasurer recommended a $450,000 transfer to the district severance fund to shore up retiree payouts.
The Perrysburg Exempted Village Board of Education received a detailed finance briefing on June 16, in which district financial staff told trustees the district is on track to close the fiscal year with about $3.2 million in positive unrestricted cash, in part because of a roughly $296,000 threshold-cost reimbursement.
Treasurer Randy reviewed month‑to‑month trends, saying the district shows 159 "true cash days," a liquidity measure he described as “a nice place to be.” He told the board the district’s revenue is up year‑over‑year and expenses were down about 4 percent, largely because of underspending on purchased services and supplies. “We’re going to end the year well,” he said.
The report also flagged the coming seasonal drop in receipts (tax collections) in July and noted the district’s forecast for the next two fiscal years will include a modest rebound effect. Randy said recent high‑cost special‑education placements affected the threshold‑cost reimbursement calculations but that the district received slightly more than budgeted in that program.
To stabilize payments tied to retirements, Randy recommended the board approve an immediate $450,000 fund transfer into the severance reserve, with a possible additional $350,000 transfer next May. He said the goal is to keep a steady “reservoir” available so retiree severance payouts do not need to come from general operations in tight years.
On motions related to the fiscal year close, the board considered permanent and temporary appropriations and approved in a single combined vote items covering routine year‑end adjustments and the ability to make year‑end spending changes (the board combined items 8.2–8.6 per staff recommendation). The motion to combine passed unanimously by roll call.
What happens next: the board will finalize permanent appropriations and continue reviewing forecasts for FY 2027–28; staff said they will discuss the severance‑fund plan in finance committee meetings next month.
Why it matters: the recommended transfers and stronger-than-expected reimbursements give the district flexibility heading into a multi‑year forecast that includes possible strains from retirements and fluctuations in state funding. The severance reserve recommendation was presented as a budget‑management step intended to reduce the need for ad‑hoc transfers from the general fund in years with higher retiree payouts.
